Corporate Insolvency Resolution Process

Chapters / List

1. Persons who may initiate corporate insolvency resolution process [ Section 6]

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2. Initiation of corporate insolvency resolution process by financial creditor [ Section 7 ]

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3. Corporate Insolvency Resolution Process by Operational Creditor [ Section 8 ]

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4. Process for initiation of corporate insolvency resolution process by operational creditor [ section 9 ]

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5. Initiation of corporate insolvency resolution process by corporate applicant [ Section 10 ]

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6. Suspension of initiation of corporate insolvency resolution process  [Section 10A ]

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7. Persons not entitled to make application to initiate corporate insolvency resolution process [ Section 11 ]

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8. Disposal of applications under section 54C (Pre-packages Resolution) and under section 7 or section 9 or section 10 [ Section 11A ]

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9. Time-limit for completion of Insolvency Resolution Process [ Section 12 ]

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10. Withdrawal of application admitted under section 7, 9 or 10 [ Section 12A ]

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11. Declaration of moratorium and public announcement [ Section 13 ]

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12. Declaration of moratorium [ Section 14 ]

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13. Public Announcement of the Initiation of CIRP [ Section 15 ]

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14. Appointment and tenure of interim resolution professional [ Section 16 ]

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15. Management of affairs of corporate debtor by interim resolution professional [ Section 17 ]

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16. Duties of interim resolution professional [ section 18 ]

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17. Duty to extend cooperation to interim resolution professional [ Section 19 ]

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18. Management of operations of corporate debtor as going concern [Section 20]

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19. Introduction of Committee of Creditor [ Section 21 ]

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20. Composition of  the Committee of creditors [ Section 21 ]

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21. First meeting of the committee of creditors [ Section 24(1)&(2) ]

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22. Issue notice for conducting meeting

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23. Voting by the Committee of creditors

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24. Appointment of resolution professional [ Section 22 ]

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25. Resolution Professional to conduct CIRP [Section 23]

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26. Duties of Resolution Professional [Section 25]

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27. Rights and duties of authorised representative of financial creditors [ Section 25A ]

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28. Replacement of Resolution Professional by Committee of Creditors [ Section 27 ]

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29. Approval of committee of creditors for certain actions [ Section 28 ]

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30. Preparation of information memorandum [ Section 29 ]

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31. Persons not eligible to be resolution applicant [Section 29A ]

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32. Resolution plan [ Section 30 ]

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33. Approval of resolution plan [ Section 31 ]

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34. Appeal [ Section 32 ]

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35. Liability for prior offences etc. [ section 32A]

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